Bank of Ireland to sell 200 mln euros of subordinated debt
DUBLIN Dec 12 (Reuters) - Bank of Ireland said on Wednesday it is issuing 200 million euros ($260 million) of 10-year subordinated debt as it looks to extend its return to capital markets.
The bank, the only Irish lender to avoid full state control after the crash in the euro zone country's property market, raised 1 billion euros via a non-state backed covered bond last month in a move the country's finance minister described as a milestone for the sector.
The latest issue, which will likely be priced on Thursday, will carry a 10 percent coupon, a spokeswoman for the bank said.
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